And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.

I would reinvest in a another property and use a 1031 exchange to detour taxes.   

Do your due diligence, understand the area, and make sure your numbers work before jumping in.

Before you close, can the rent from your buddy and the midterm tenant cover your mortgage, taxes, insurance, plus a bit extra?

Hello,I was wondering if anyone has participated in the Philadelphia tax foreclosure auction recently and how long it has taken you to receive the deed?

It will have to be a pass through/disregarded LLC to keep the tax payer the same and the 1031 valid.

I put the odds at 97% an investor does very well, 2% that through no fault of Praxis' the housing market and/or the economy enter a tail-spin due to inept political leadership at the highest levels, and 1% that Brian is the biggest fraud ever to fool me. 

I found this one https://www.titlesearchcourse.com/faq/ its 69$ and the person who created it also has a youtube and specializes in tax foreclosure properties which is what i do.

I again state the problem is with the underwriting.  8.5% vacancy, pm 15%, 25% turn over (using my reduced numbers) or 37.5% using your actual, my minimum maint/cap ex would be 50%, prop tax, insurance, missed payment (seeing my vacancy only included the one month turn over), P&I?

I imagine I can get his wages garnished or maybe collect from his tax return.